Nifty likely to open flat to positive; 3 stocks which could give 6-11% return

Trends on SGX Nifty indicate a marginally higher start for the broader index in India, a gain of 48.5 points or 0.47 percent. Nifty futures were trading around 10,328-level on the Singaporean Exchange.

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The Nifty50 is likely to open on flat to positive note on Friday tracking mixed cues in in the global markets.

Trends on SGX Nifty indicate a marginally higher start for the broader index in India, a gain of 48.5 points or 0.47 percent. Nifty futures were trading around 10,328-level on the Singaporean Exchange.

Wall Street indexes continued their slide in Thursday’s volatile session as investors worried about rising interest rates and braced for a trade war hit to corporate earnings a day ahead of the quarterly reporting season kickoff., said a Reuters report.

Asian shares appeared tentative on Friday, holding steady after a nine-day losing streak, but sentiment was frail after Wall Street shares crumbled and expectations of market volatility shot up to an eight-month high, it said.

Gold edged down on Friday but held near an over two-month high hit in the previous session, when prices surged over 2 percent as a rout in global stock markets boosted the metal’s safe-haven appeal.

Stocks in news:

Results today: Hindustan Unilever, 3i Infotech, Karnataka Bank, Tata Sponge Iron, Quintegra Solutions

TCS Q2: Net profit rises 7.6 percent to Rs 7,901 crore versus Rs 7,340 crore, rupee revenue increased 7.6 percent to Rs 36,854 crore versus Rs 34,261 crore; dollar revenue up 3.2 percent to $5,215 million versus $5,051 million (QoQ).

GM Breweries Q2: Profit rises to Rs 19.42 crore versus Rs 15.73 crore; revenue increases to Rs 413.59 crore versus Rs 384.82 crore (YoY).

Bank of Baroda: Company has extended the term of office of P S Jayakumar as Managing Director and Chief Executive Officer for a further period of one year.

Sambhaav Media: Company commenced FM radio channel under the brand name “Top FM” at Godhra (93.1).

Wipro launches innovation and talent hub in Reading, UK

OnMobile Global: Subsidiary OnMobile Europe BV entered into an agreement for acquisition of 100 percent shares of Appland AB.

Technical Recommendations:

Pfizer Ltd: Buy| Target: Rs 2,980| Stop Loss: Rs 2680| Returns 7.1%

Dhampur Sugar: Buy| Target: Rs 171| Stop Loss: Rs 145.5| Returns 11%

Jindal Steel & Power: Sell Oct Futs| Target: Rs 155| Stop Loss: Rs 171| Returns 6.6%

Disclaimer:-The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.

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